CORRECTING and REPLACING LTI: FY19 constant currency revenues grow 20.9%; Net Profit for the full year up 36.2%

3 weeks ago

MUMBAI, India–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/FinancialResult?src=hash” target=”_blank”gt;#FinancialResultlt;/agt;–Under the header “Other Business Highlights,” the first sentence of the
first bullet point should read: The Board of Directors at its meeting
held on May 2nd, 2019 have declared a final dividend of Rs. 15.5 per
equity share (Face value of Re. 1) for the financial year 2018-19
(instead of …Rs. 16.5 per equity share…).

The corrected release reads:

LTI: FY19 CONSTANT CURRENCY REVENUES GROW 20.9%; NET PROFIT FOR THE
FULL YEAR UP 36.2%

Net Income at Rs 3,785 million; Net Income growth at 0.9%
QoQ and 30.8% YoY

Full year FY19

In US Dollars:

Revenue at USD 1,349.1 million; growth of 19.1% YoY

Constant Currency Revenue growth of 20.9% YoY

In Indian Rupees:

Revenue at Rs 94,458 million; growth at 29.3% YoY

Net Income at Rs 15,155 million; Net Income growth at 36.2%
YoY

“We are happy to deliver a strong 21% YoY revenue growth in a rapidly
changing industry environment. Our sharp focus on amplifying business
outcomes for our clients is resonating well and enabling us to win
consistently.

We are also pleased to announce two large deals in Q4 with cumulative
net-new TCV in excess of US$100 million. We remain focused on building
differentiated capabilities and helping our customers with their digital
transformation.”

– Sanjay Jalona, Chief Executive Officer & Managing Director,
LTI

Recent Deal Wins

Multi-year multi-million large deal for transforming the global
application operations of an engineering equipment manufacturer

A leading global re-insurer has selected LTI as its transformation
partner to assist in modernizing its IT landscape

Global auto major selected LTI for implementing SAP S/4 HANA for its
trading and manufacturing arm to transform its IT landscape

Selected by a pharma solutions company to provide technical and
functional support for its application systems

Global oil major selected LTI to provide application, maintenance and
support services

Awarded managed services deal for APAC operations of a US
headquartered pharma major

Awarded JDE support services contract by a public utilities enterprise

Leading North American insurance broker selected LTI for digitizing
its application stack

Client Testimonial

“We chose LTI because of its geographical and cultural proximity, and
record of working with large international companies on projects of this
scale. LTI managed to deliver the entire JDE implementation in a record
time of 12 months. We are also impressed by their deep understanding of
JDE, because of which they could challenge our established processes,
and adapt them to the Indian context.”

– Philippe Teisseire, CFO, BIC Cello India

Awards and Recognitions

Tops ITS Challengers List for the second consecutive year in Everest
Group’s PEAK Matrix IT Service Provider of the YearTM 2019

LTI has topped the Client Satisfaction Survey conducted by Whitelane
Research in France, for the second consecutive year

Positioned as an Innovator in Avasant’s Applied AI and Advanced
Analytics 2019 RadarView™

Named by the 1Q19 Global ISG Index™ as one of The Breakthrough 15 in
Global Sourcing Standouts

Other Business Highlights

The Board of Directors at its meeting held on May 2nd, 2019 have
declared a final dividend of Rs. 15.5 per equity share (Face value of
Re. 1) for the financial year 2018-19. Total dividend for FY19 is Rs.
28 per equity share, including the interim dividend of Rs. 12.5 per
equity share declared in October 2018.

LTI acquired NIELSEN+PARTNER (N+P), an independent Temenos WealthSuite
specialist, headquartered in Hamburg, Germany. The company is
well-recognized for its market-leading capabilities in Temenos
WealthSuite, including Triple’ A Plus, Data Source and Channels

Ranked at #25, LTI was recognized for developing one of the Top 100
Sustainability reports worldwide in the 2017-18 Vision Awards by
League of American Communications Professionals.

For its industry-leading growth, BTVi recognized LTI as the Most
Admired Company of the Year 2018

The Board of Directors of the Company have appointed Mr. Nachiket
Deshpande, Chief Operating Officer of the Company as a Whole-time
director of the Company for a period of five years with effect from
May 2, 2019 till May 1, 2024 subject to shareholders approval at the
ensuing Annual General Meeting of the Company.

About LTI:

LTI (NSE: LTI) is a global technology consulting and digital solutions
Company helping more than 300 clients succeed in a converging world.
With operations in 30 countries, we go the extra mile for our clients
and accelerate their digital transformation with LTI’s Mosaic
platform enabling their mobile, social, analytics, IoT and cloud
journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited,
our unique heritage gives us unrivaled real-world expertise to solve the
most complex challenges of enterprises across all industries. Each
day, our team of more than 27,000 LTItes enable our clients to improve
the effectiveness of their business and technology operations and
deliver value to their customers, employees and shareholders. Find more
at http://www.Lntinfotech.com
or follow us at @LTI_Global